Nokia's $16.6 billion acquisition of Alcatel-Lucent approved by European Commission

The European Commission has given the green light to Nokia’s acquisition of telecoms equipment company Alcatel-Lucent for €15.6 billion ($16.6 billion). The Commission noted that the deal would “not raise competition concerns” because “the parties are not close competitors [and] a number of strong global competitors will remain active.” Nokia’s strength in the telecoms industry is centered on Europe, said the Commission, while Alcatel-Lucent’s main presence is in North America. It added that with industry leader Ericsson still in operation alongside Asian rivals Samsung, Huawei, and ZTE, there remains a competitive market for telecoms equipment.

The newly approved deal is the latest milestone in Nokia’s transition from a company with…